I applied for Blispay today wanting to make use of the 6-month no interests feature as I need to buy a few $200+ items throughout the year for the two rentals I owned. I got denied as soon as I entered my annual income ($120K). For data points, My FICO 8 scores from CCT are 790+ across all 3Bs. No baddies. 7% UTIL on total of (only) 65K CL. 7 INQ on EX. 3 mortgage loans totaling 1.1M. AAoA is 8+ yrs. (Just obtained a HELOC from DCU, but haven't reported yet and INQ was from EQ only.)
I combed through the board, tried to find similarities. My conclusion is that Blispay does not always ask for annual income, unless your total debt is at certain level - and denied you if the total debt to income ratio was deemed too high, regardless of EX credit score.
I can certainly understand that different company uses different algorithams to determine risk.. However, I do believe that if my denial was indeed due to the reason I outlined, then they really do need to tweak it a bit to put less emphasis on secured mortgage loans, like the other more matured lenders.
No big deal though, as the only bad effect is 5 point ding on EX FICO score, now at 789! Good lesson learned!
